Economy 53,075 Posted October 3, 2018 Share Posted October 3, 2018 https://www.bnnbloomberg.ca/canadian-crude-s-discount-to-wti-hits-us-40-as-oil-pain-grows-1.1146741 Canada's pipeline shortage and competition for space has gotten so bad that Oil is now selling for $40/barrel below WTI or more than 50% off American oil and International Brent In addition to the lowest global prices Canadas oil companies have high new costs with the carbon taxes and new tougher environmental standards Most Canadian Oil Companies at this time are running big losses. The Government is also loosing $15 Billion annually in tax revenue from the discount Link to post Share on other sites More sharing options...
Diamond Monster 299 Posted October 3, 2018 Share Posted October 3, 2018 I done told y'all oil dependence wasn't good for an economy, especially one as big as Canada's. At least the Earth won't suffer as much. Link to post Share on other sites More sharing options...
Economy 53,075 Posted October 3, 2018 Author Share Posted October 3, 2018 19 minutes ago, Diamond Monster said: I done told y'all oil dependence wasn't good for an economy, especially one as big as Canada's. At least the Earth won't suffer as much. I dunno about that. Canada has one of the highest environmental standards of oil producing Nations. Don't know how reducing investment there and companies moving it to US Shale that contaminates more water and has a lot of natural gas flaring is any better The winners here are US refiners who pay pennies for Canadian oil then sell gasoline and other products at full price And the issue here wasn't dependence. Unemployment is at 40 year low and budget deficit low despite the Oil crisis here. It's that green activists are more powerful here than in most major oil producers and have succeeded at blocking every major attempt to build another pipeline Even Transmountain which the company got fed up with waiting for full regulatory approval and that went to court 14 times got sold to the government for the government to build themselves because there seemed to be no other way to build one already and it's been 10 years since one pipeline after the other gets pulled and doesn't get built Now even Transmountain that the government owns is back in court again as of this last week and construction had to be halted until further notice I understand switching to a greener future. I just don't get why Canada has to be the one Country to take all the blow and other Nations get no issues Link to post Share on other sites More sharing options...
DONAJENDRO 1,914 Posted October 3, 2018 Share Posted October 3, 2018 Build the pipeline sistrens! We need the coin. Mad Onna Link to post Share on other sites More sharing options...
Economy 53,075 Posted October 3, 2018 Author Share Posted October 3, 2018 4 minutes ago, Mad Onna said: Build the pipeline sistrens! We need the coin. We been trying for 10 years Keystone XL got opposition in Nebraska and is yet to be built after all these years Energy East which was gonna go across Canada to bring oil to Eastern Refineries got fierce opposition in Quebec and the company ended up giving up on it because of legal challages Northern Gateway got approved but Aboriginal opposition convinced Trudeau to cancel it Transmountain was blocked by British Columbia despite Federal Approval and one court case after the other and now that the government bought it for $4.5 Billion to build it themselves they still can't build it, it's back in court The entire world energy industry is thriving now exept Canada's We have one of the toughest environmental standards but still get among the most opposition because of green groups here Link to post Share on other sites More sharing options...
DONAJENDRO 1,914 Posted October 3, 2018 Share Posted October 3, 2018 1 minute ago, Economy said: We been trying for 10 years Keystone XL got opposition in Nebraska and is yet to be built after all these years Energy East which was gonna go across Canada to bring oil to Eastern Refineries got fierce opposition in Quebec and the company ended up giving up on it because of legal challages Northern Gateway got approved but Aboriginal opposition convinced Trudeau to cancel it Transmountain was blocked by British Columbia despite Federal Approval and one court case after the other and now that the government bought it for $4.5 Billion to build it themselves they still can't build it, it's back in court The entire world energy industry is thriving now exept Canada's We have one of the toughest environmental standards but still get among the most opposition because of green groups here "Environmental standards" = rejecting the safest method for oil transportation 🤫 😍 Mad Onna Link to post Share on other sites More sharing options...
TheSlash 14,539 Posted October 3, 2018 Share Posted October 3, 2018 Well sistrens, get your coins ready.... Ew, David! Link to post Share on other sites More sharing options...
Economy 53,075 Posted October 3, 2018 Author Share Posted October 3, 2018 7 minutes ago, Mad Onna said: "Environmental standards" = rejecting the safest method for oil transportation 🤫 😍 Ya... Let's move more by train or let other nations with worse environmental standards produce what we don't Great plan to help environment while reducing tax revenue for social programs Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted October 3, 2018 Share Posted October 3, 2018 56 minutes ago, Diamond Monster said: I done told y'all oil dependence wasn't good for an economy, especially one as big as Canada's. At least the Earth won't suffer as much. It's "consumption" reduction that was "save" the earth... Not restricting production in Canada....8-/ like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 53,075 Posted October 3, 2018 Author Share Posted October 3, 2018 5 minutes ago, Woolfsmck said: It's "consumption" reduction that was "save" the earth... Not restricting production in Canada....8-/ This. Reduction in investment here means more market share somewhere else and probably somewhere with lower environmental standards This only makes us loose tax revenue and jobs, doesn't help the earth at all Link to post Share on other sites More sharing options...
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